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Possible Bullish Inside Day Candle Pattern Detected for Booz Allen Hamilton (NYSE:BAH)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Booz Allen Hamilton (NYSE:BAH) based on the price action in the company's shares. Yesterday's price range of $27.86 and $28.11 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Booz Allen Hamilton may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Booz Allen Hamilton Holding Corp. provides management and technology consulting services to the U.S. government in the defense, intelligence and civil markets. The Company offers economic and business analysis, information technology, intelligence and operations analysis, modeling and simulation, organization and other consulting services.

Booz Allen Hamilton has overhead space with shares priced $28.04, or 12.9% below the average consensus analyst price target of $32.18. Booz Allen Hamilton shares should first meet resistance at the 200-day moving average (MA) of $28.27 and find additional resistance at the 50-day MA of $28.63.

In the past 52 weeks, Booz Allen Hamilton share prices have been bracketed by a low of $23.87 and a high of $31.34 and closed yesterday at $28.04, 17% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Booz Allen Hamilton and will alert subscribers who have BAH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle booz allen hamilton

Ticker(s): BAH